To Start Up a New Business by Operating Under a License

question 217

Short Answer

To start up a new business by operating under a license issued by a parent company to local entrepreneurs who own and manage the business is known as
a small business.
a macroenterprise.
an enterprise.
a microenterprise.
a franchise.

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Definitions:

Just-In-Time

A production strategy aimed at reducing times within the production system as well as response times from suppliers and to customers.

Demand Pull

An economic condition where an increase in demand for goods and services leads to higher prices and production.

Warehousing Needs

The requirements related to the storage of goods, including space, security, and management, to ensure safe and efficient handling.

Learning and Innovation

The process through which organizations and individuals gain new knowledge and apply it creatively to improve products, services, or processes.